Better Collective Acquires US Sports Betting Media Platform for $240 Million
Sports betting media group, Better Collective, today announces that it has signed an agreement to acquire 100% per cent of the shares in Action Network, Inc. for US $240 million (£173 million / €198 million) on a cash and debt-free basis.
Founded in 2017 and launched in 2018, Action is uniquely positioned in the US market as the premium sports content and product destination for US sports bettors. A trusted source for sports fans, Action’s media platforms provide an enhanced experience for its users through original sports news content, premium insights, deep menus of odds and proprietary betting tools and data. Action’s diverse revenue model includes a rapidly-growing affiliate marketing business focused on customer acquisition for betting operators in the US as well as subscription products, anchored by Action Pro, Action Labs and Fantasy Labs.
In 2021, Action is expected to achieve revenues approaching US $40 million, an increase of over 100% year-on-year, while also generating positive earnings in 2021.
As more states legalize online sports betting, the potential to further deepen and expand Action’s commercial partnerships with large US-based sportsbooks such as BetMGM, DraftKings, FanDuel and PointsBet is significant.
Action is headquartered in New York, and has approximately 100 employees.